Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.20.4
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Segment information for fiscal year 2020 is as follows (in thousands):
Year Ended December 31, 2020
Performance Enzymes Novel Biotherapeutics Total
Major products and service:
Product Revenue $ 30,220  $ —  $ 30,220 
Research and development revenue 17,886  20,950  38,836 
Total revenues $ 48,106  $ 20,950  $ 69,056 
Primary geographical markets:
Americas
$ 11,111  $ 13,241  $ 24,352 
EMEA
11,548  7,709  19,257 
APAC
25,447  —  25,447 
Total revenues $ 48,106  $ 20,950  $ 69,056 
Segment information for fiscal year 2019 is as follows (in thousands):
Year Ended December 31, 2019
Performance Enzymes Novel Biotherapeutics Total
Major products and service:
Product Revenue $ 29,465  $ —  $ 29,465 
Research and development revenue 28,691  10,302  38,993 
Total revenues $ 58,156  $ 10,302  $ 68,458 
Primary geographical markets:
Americas
$ 13,039  $ —  $ 13,039 
EMEA
26,831  10,302  37,133 
APAC
18,286  —  18,286 
Total revenues $ 58,156  $ 10,302  $ 68,458 
Segment information for fiscal year 2018 is as follows (in thousands):
Year Ended December 31, 2018
Performance Enzymes Novel Biotherapeutics Total
Major products and service:
Product Revenue $ 25,590  $ —  $ 25,590 
Research and development revenue 21,483  13,521  35,004 
Total revenues $ 47,073  $ 13,521  $ 60,594 
Primary geographical markets:
Americas
$ 15,332  $ 38  $ 15,370 
EMEA
8,878  13,483  22,361 
APAC
22,863  —  22,863 
Total revenues $ 47,073  $ 13,521  $ 60,594 

Contract Balances
The following table presents balances of contract assets, unbilled receivables, contract costs, and contract liabilities (in thousands):
December 31, 2020 December 31, 2019
Contract assets $ 4,526  $ 1,027 
Unbilled receivables $ 10,942  $ 10,099 
Contract costs $ 90  $ — 
Contract liabilities: deferred revenue $ 4,791  $ 2,044 
Contract with Customer
We recognized the following revenues (in thousands):
Year Ended December 31,
Revenue recognized in the period for: 2020 2019
Amounts included in contract liabilities at the beginning of the period:
     Performance obligations satisfied $ 57  $ 4,567 
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods 774  1,442 
Performance obligations satisfied from new activities in the period - contract revenue 68,225  62,449 
Total revenues $ 69,056  $ 68,458 
Performance Obligation, Expected Timing of Satisfaction
The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts (in thousands):
2021 2022 2023 2024 and Thereafter Total
Product Revenue $ 67  $ 67  $ 431  $ 1,923  $ 2,488 
Research and development revenue 1,757  —  546  —  2,303 
Total revenues $ 1,824  $ 67  $ 977  $ 1,923  $ 4,791